North America

Three sources familiar with this preparation revealed on Tuesday that U.S. officials are preparing to issue a license to lift'some sanctions' from Venezuelan energy companies. This is a departure from the previous plan of granting individual exemptions for sanctions to companies wanting to do business there. U.S. officials said that following the capture by the U.S. of Venezuelan president Nicolas Maduro in the first week of this month, Washington would ease the sanctions on Venezuela's energy sector to facilitate a $2 Billion oil supply deal and an ambitious $100 Billion reconstruction plan for the country's petroleum industry. In recent weeks,...

Trump's administration has suspended funding for the new $16. The Trump administration's suspension of funding for a new $16? In October, President Donald Trump announced that he had cancelled the project. His Republican administration has repeatedly targeted transit and infrastructure projects that are in Democratic-led States. At a Tuesday hearing, the Gateway Development Commission, a New Jersey Democrat and U.S. Rep. Josh Gottheimer said that the project would be suspended on the 6th of February if Trump did not restore funding approved under the former administration of?former president Joe Biden. He claimed that about 1,000 workers would lose their jobs...

Meta Platforms, the parent company of Facebook, will pay Gorilla Glass manufacturer Corning up to $6 billion in the coming years as part of a deal for fiber-optic cable supply for its AI data centres. Meta will be the main customer of Corning's advanced optical fiber, cables and connectivity products. Corning is also expanding its manufacturing capabilities in North Carolina including its cable factory in Hickory. Corning's optical connector products are among the key components needed to support massive computing and data transmission needs at?data centres. Corning shares will surge by 84% in 2025 due to the demand for their...

United Airlines unveiled on Tuesday its largest-ever summer schedule for the?Chicago O'Hare International Airport. The airline is escalating their battle with American Airlines to gain gates and attract higher-priced passengers in the city's third-largest airport. United Airlines, based in Chicago, said it expected to run a record number of departures daily from O'Hare during the summer season. This is up by nearly 170 compared to a year ago. The expansion comes just days after Scott Kirby, CEO of United Airlines, pledged to add as many flights as necessary to prevent American from gaining extra gates at United’s expense in the...

Ship tracking service Vortexa reported that exports of crude oil from U.S. Gulf Coast ports fell to zero on Sunday after a major winter storm swept the country. A recent Arctic blast has swept the United States, putting strain on energy grids and infrastructure. According to analyst predictions, up to 2 million barrels of oil production per day went offline over the weekend because of the cold weather. In a 'LinkedIn' post,?Samantha Santa Maria Hartke, head of?market analysis?at Vortexa said that the storm had reduced exports of liquefied petrol gas such as propane and butane to a third of seasonal...

GMS, a leading ship recycling company in Dubai, has told its CEO that it has applied for a U.S. licence to purchase and scrap vessels seized by the U.S. Government linked to Venezuelan oil trading. In recent weeks, the U.S. Coast Guard and military have seized seven vessels that either carried Venezuelan oil in their cargo or had done so previously. The seizure was part of Washington’s campaign to force Venezuelan president Nicolas Maduro from power, which culminated with U.S. forces capture him on January 3. Oil spills are possible while the vessels remain in the water. They are part...

The Federal Aviation Administration announced on Monday that seven people died and one was seriously injured when a private plane crashed in Bangor, Maine as it took off. The FAA reported that the crash of the twin-engine turbofan jet Bombardier Challenger 600 at Bangor International Airport occurred around 7:45 pm on Monday. The National Transportation Safety Board (NTSB) is investigating this crash that occurred during snowy weather conditions and low visibility. Bombardier has referred all questions to the NTSB. The Bangor Airport remained closed on Monday morning. An official from the government said that the plane had arrived at?Maine, Maine...

A federal judge ruled on Friday that President Donald Trump's administration illegally suspended funding to support the expansion?electric vehicle charger infrastructure. This was a win for the 20 Democratic-led state who sued the Trump administration over this action. U.S. District Court Judge Tana Lin ruled in Seattle in favor of the District of Columbia and 20 states that had filed their suit after the U.S. Department of Transportation suspended in February an EV charging infrastructure program enacted in 2021 by Congress under a Democrat President Joe Biden. Lin, a Biden-appointed official, stated that the DOT and Federal Highway Administration had...

The U.S. has warned Tehran to stop killing protesters and not restart its nuclear program in the face of Iran's most violent unrest for years. Analysts warn of a further escalation that could lead?Tehran, or any other country involved in oil exports, to try to close the Strait of Hormuz. Here are some details on the?strait What is the Strait of Hormuz? The Strait is located between Oman, Iran and the Gulf of Oman. It connects the Gulf of Oman in the north with the Arabian Sea to the south. The shipping lane is only 2 miles (3km) wide either...

Bloomberg News, citing sources familiar with the situation, reported that CK Hutchison was considering a restructured'sale' of dozens ports to a global consortium. This would involve breaking 'the transaction up into smaller parcels, each with a different ownership structure. CK Hutchison - based in the 'Chinese controlled territory' of Hong Kong - has been heavily criticized by Beijing after it announced plans last year to'sell 43 ports across the 23 countries including two near the Panama Canal, to a consortium headed by BlackRock - and Italian billionaire Gianluigi Aponte’s family-controlled MSC shipping group. The report stated that under the proposed...

Jan 22 - CSX reported Thursday that its fourth-quarter revenue, profit and earnings fell short of expectations. This was due to a weaker industrial market and lower export coal shipments. These factors were offset by higher pricing and increased intermodal traffic. U.S. -based railroad operators like CSX are facing a softer industrial environment and an uneven freight demand. This has led to companies reducing their costs and adjusting operations. Steve Angel, CEO of the company, said that "our quarterly results reflect a subdued industrial demand environment, and the actions we have taken to adjust our costs structure." The company will...

BNSF Railway, owned by Berkshire Hathaway, said on Thursday that a winter'storm' will disrupt operations along major corridors. Heavy snow, high winds and extreme cold are all threatening train movement. Railroad warned that customers who were moving freight through storm-affected areas should expect delays and longer transit time. They also said that shipments could temporarily be routed in a nonstandard way, or pass through "unfamiliar" locations, or encounter atypical interlockings. Winter storms will hit the U.S. energy and transport infrastructure. They will also threaten major disruptions for airlines, railways, and power providers. BNSF stated that the storm would disrupt a...

Gatik announced on Tuesday that it had secured $600,000,000?in contract revenue and has deployed 'fully driverless trucks' for commercial operations. This highlights the ambitions of the autonomous trucking company to gain a foothold in the market. The heavy regulatory scrutiny surrounding safety has made the commercialization of autonomous vehicles a challenge. However, advances in artificial intelligent have helped many firms improve their technology. Gautam Nang, CEO and founder of Gatik, said: "Today we operate fully driverless trucks across multiple logistic networks and markets. We serve the largest retailers and CPG firms in the country." Gatik's trucks operate nearly?24-hours a day....

United Parcel Service, the largest package delivery company in the world, announced on Tuesday that it will close 24 additional facilities and eliminate up to 30,000 positions by 2026. This is due to its ongoing shift towards a'more profitable business. In midday trading, shares of the company rose 4%. The company also announced fourth quarter results that exceeded Wall Street expectations and forecasted a surprise increase in annual revenue. FedEx shares gained 2.6%. Carol Tome, CEO of the company, said in a conference with analysts that the company plans to reduce Amazon deliveries. "We are now in the last six...

Union Pacific, the U.S. railroad, reported results for its fourth quarter that were below analyst estimates on Tuesday. This was due to a 'volatile freight market and macroeconomic pressures', which strained its operations. Last year, the?company unveiled an A $85 billion acquisition bid It will create the nation's first coast-tocoast freight railroad. Rail unions have been vocal in their opposition to the merger, claiming that it could threaten jobs and raise costs for shippers. The U.S. Surface Transportation Board returned the proposal for revision in early?this week, citing that it was missing information. It also applied tougher competition rules after...

The U.S. Surface Transportation Board sent Union Pacific's $85 billion merger proposal with Norfolk Southern back to be revised on Friday, saying that it was missing required information. This is part of an ongoing review by the U.S. The STB rejected the application in December, citing a lack of projections on market share and competition impacts. The board denied the application without prejudice and allowed the railroads to re-file once they addressed the deficiencies. Donald Trump publicly supported the merger proposal. The administration tends to 'approve large transactions or impose remedy rather than blocking them outright. A merger of this...

J.B. Hunt Transport Services, a U.S. trucking company, reported an increased profit for the fourth quarter on Thursday. This was largely due to a strong shipping demand during peak season and efforts made by all departments to reduce costs. As volumes increase, carriers add seasonal surcharges. The company is pursuing cost reductions in order to increase efficiency. This is because the trucking industry has been experiencing a downturn for'more than three years, marked by excessive capacity and seasonal volume increases, which have kept rates low. The expectation of a U.S. trucking market turnaround in 2026 is gaining momentum. This is...

PlusAI, the self-driving vehicle startup, announced on Monday that it would launch Southern Europe's very first program to test heavy-duty autonomous vehicles. It will also expand its partnership with Iveco Group and brand IVECO. Two IVECO S-Way truck equipped with PlusAI’s Level 4 autonomous driving.system will be tested on a 300-km route between.Madrid.and Zaragoza in 2026. A safety operator will also be onboard. Trials will be conducted with Spanish logistics operator Sese, and the regional government of Aragon. PlusAI in Silicon Valley, with offices in Europe and America, has been working with Iveco on joint research and tests for many...

Ziad El Chaar, CEO of Saudi real estate developer Dar Global, announced on Sunday that two Trump-branded luxury projects will be launched in Riyadh (Saudi Arabia) and Jeddah (Jordan). Chaar said that the projects include the Trump National Golf Course in Riyadh and the Trump International Hotel at Diriyah. This is a massive project located on the western edge of the Saudi capital. Chaar said that a mixed-use development called Trump Plaza is planned for Jeddah. Chaar stated that the projects were in line with Saudi Arabia's Vision 2030, which aims to diversify its economy and move away from oil....

Aluminum consumers in the United States pay record prices. These are significantly higher than the import levies, transport costs, and other factors would suggest. This is because tight supplies globally exacerbate the impact of the tariffs, and the low U.S. inventory. Aluminium is needed by industries like automotive, aerospace and packaging. Aluminum prices can have a knock-on effect on the economy, as they increase manufacturing costs, squeeze margins, and eventually drive inflation. In June, President Donald Trump increased tariffs on U.S. aluminum imports from 25% to 50% to encourage local production. Aluminium?costs have increased by 40% for U.S. customers since...

Aluminum?consumers are paying record prices in the United States, far above what import levies and transportation costs would justify, due to tight supplies worldwide and the 'impact' of tariffs on low U.S. stocks. Aluminium is needed by industries like automotive, aerospace and packaging. Aluminum prices can have a knock-on effect on the economy, as they increase manufacturing costs, squeeze margins, and eventually drive inflation. In June, President Donald Trump increased tariffs on U.S. aluminum imports by 50% to encourage local production. Aluminium costs have risen since then for consumers in the U.S. Consumers have seen a 40% increase to $5,200...

The U.S. Department of Transportation announced on Wednesday that it is withholding federal funds of $160 million from California for failing to cancel 17,000 commercial driver's licences improperly issued by non-U.S. Citizens. First, the department warned that it would take action in September. USDOT stated that California failed to revoke licenses within the agreed upon deadline of January 5, A spokesperson for California Governor Gavin Newsom declined to comment immediately, but previously stated that the state's commercial drivers license holders "had a deadly crash rate nearly 40 percent lower than the average national." Texas, the only state with more commercial...

Goldman Sachs dominated again the league tables of global dealmaking for 2025. It took the?marketshare and top spot in an year marked by high stakes political dramas and ever larger mergers. Goldman's No. 1 ranking was boosted by the rise of $10 billion deals, of which there were 68 in the last year totaling $1.5 trillion - more than twice as much as the previous year. According to LSEG data, Goldman has the No. 1 ranking. The firm was involved in 38 of these 'deals', more than any other investment banking firm, and the total value of the deals it...

Goldman Sachs dominated again the league tables of global dealmaking for 2025. It took the market share and top spot in an year that was marked by high stakes political dramas and ever-larger mergers. Goldman's No. 1 ranking was boosted by the rise of $10 billion deals, which totaled $1.5 trillion last year, or more than double the previous year. According to LSEG data, Goldman ranked No. 1 in the world. The firm was involved in 38 of these deals, more than any other investment bank. Total volume of advised deals was $1.48 trillion. This was the most active period...